Cuba: Trump To Curtail U.S. Travel Spending

President Donald J. Trump will curtail cash flow to Cuba's communist government in a reversal of some Obama Administration policies to be unveiled Friday in Miami.

The most significant change in the fresh Cuba "policy directive": Americans will no longer be able to spend money in Cuba on state-run hotels or restaurants tied to the military, according to The Miami Herald. The paper obtained an eight-page document on the policy Thursday outlining President Trump's pushback on Obama Administration initiatives, which weakened the longstanding economic U.S. embargo on Cuba. Trump reportedly cited human-rights violations in Cuba as justification for a new U.S. approach.

Video continues to circulate on the Internet of a man, at a Havana May Day celebration, who is crushed and carried off by others after he runs with an American flag over his head as other revelers look on.

Despite a new direction, embassies that reopened in Washington, D.C. and Havana under Obama will remain open, and Cuban Americans will still be able to travel to Cuba and send money there, The Herald reports. Cuban-American Republicans derided Obama’s 2014 policy as a capitulation, The Miami Herald reports in "Trump recasts Cuba policy, takes harder line than Obama on military, travel."

The Herzfeld Caribbean Basin Fund (CUBA), a closed-end fund that invests in companies that could benefit from more open trade between the United States and Cuba, was flat Thursday, while the iShares Latin America 40 exchange-traded fund (ILF) was down 1%.

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